Investment Bank Attempts To Settle Out Of Court With Financial Times
A UK lawsuit filed against the Financial Times by investment bank, Collins Stewart Tullett, has been delayed as the bank tries to settle on an out of court basis. The lawsuit, for 37 million GBP, stemmed from allegations made by the Financial Times in 2003 accusing the investment bank of regulatory breaches.A spokesperson for the investment bank spoke about the out of court discussions taking place between the two parties, stating: "It is hoped, indeed expected, that these may bear fruit." Originally, the investment bank had been seeking over 230 million GBP for a decline in stock prices after the article was published, but this claim was thrown out by a judge.
Following the filing of the lawsuit, a debate was sparked with regards to whether newspapers can or should be sued if an article published in it results in the decline of share and stock prices.
If the case against the Financial Times does go ahead, in the event that no successful out of court settlement is reached, it is likely that the whole process will run for about two weeks.
Topic Added February 1st, 2006
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